Patent and Legal Fees Sample Clauses

Patent and Legal Fees. Company will also pay CHMC for all past patent and legal fees associated with the Patents, totaling $177,104.29 as of the Effective Date. Such payments will be made to CHMC within thirty (30) calendar days after the Company’s first to occur convertible debt or equity raise following the Effective Date. At Company’s option, payment of the accrued patent expenses due as of the Effective Date can be made in the form of that convertible debt or equity to CHMC with the same terms and conditions as the other investors for that fund raise event. As of the Effective Date, Company will be responsible for all current and on-going patent expenses and will reimburse CHMC for such expenses promptly upon receipt of invoice.